Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English


English definition of “economic theory”

economic theory

noun     ECONOMICS
[U] the ideas and priniciples that aim to describe how economies work : Basic economic theory states that if wages are too high, economic growth will suffer .
[C] a particular idea or principle that aims to describe how an economy works : He disagreed with supply-side economic theories .
(Definition of economic theory noun from the Cambridge Business English Dictionary © Cambridge University Press)
Focus on the pronunciation of economic theory

Word of the Day


a good knowledge of something, or the fact that you know it so well

Word of the Day


Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More